SBA 7a & 504

$500,000 - $5,500,000


SBA 7(a) can be used for:

  • Acquiring, refinancing, or improving real estate and/or buildings.
  • Short- and long-term working capital 
  • Refinancing current business debt 
  • Purchasing and installation of machinery and equipment
  • Purchasing furniture, fixtures, and supplies
  • Changes of ownership (complete or partial)

 


SBA 504 can be used for:

  • Existing buildings or land 
  • New facilities 
  • Long-term machinery and equipment
  • Or the improvement or modernization of: 
  • Land, streets, utilities, parking lots and landscaping 
  • Existing facilities 




We work with many small businesses, providing responsible working capital solutions tailored specifically for their business needs. We know each client carries a unique story, and with dozens of different forms of working capital available in the market, the “one size fits all” approach utilized by many of others in this market leaves many small businesses fighting an uphill battle with a product that doesn’t match their business needs.




Alliance Business Advisors works nationwide solely with SBA Preferred Lenders.  We also have partners able to provide conventional business financing.

 

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LOAN TERMS


10 years for most uses of proceeds and up to 25 years for CRE and 10 years for equipment. Fully amortizing with no prepayment penalties for loans under 15 years.

FUNDING TIMELINE


Average timelines range anywhere from 45 to 60 days from the initial application date, dependent on various factors

COLLATERAL


Low to minimal collateral requirement by SBA. Must take first position on all financed assets and best position UCC filing on all business assets.

 USE OF PROCEEDS


Typically, loans of $500,000 to $5,500,000  include working capital, equipment or debt refinancing needs. Business acquisitions and CRE uses are also eligible.



INTEREST RATES


Variable interest rates and multi‐year adjust. Usually priced at Wall Street Prime +3.00%, adjusting every calendar quarter (Jan. 1, Apr. 1, Jul. 1, Oct. 1)

OTHER FACTS


No assignment of life insurance or junior positions on personal real estate are required by SBA, no minimal financial covenants and all owners of 20% or more must provide guarantees.

DOCUMENTATION FOR PREQUALIFICATION

  • 3 (most recent) Years of Business Tax Returns (including all schedules)
  • 3 (most recent) Months of Business Bank Statements
  • Interim Profit & Loss Statement
  • Interim Balance Sheet
  • Business Debt Schedule
  • 3 (most recent) Years of Personal Tax Returns (including all schedules)
  • Personal Financial Statement
  • Tri merge Credit Report
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